Topic: China's central bank will soon regulate ICO's (Read 1620 times)

@Spoetnik. Yes you are right. Crypto profiteers are cowards but it does not mean they will stop from trying to make any profit. They will still do it. If it means they need to break some laws, they will do it more discreetly.

In their own eyes they are not cowards but smart. The people who lay down in front of a tank are the stupid ones. I am sure you yourself will not do it.

Why do you keep saying "Stop" ?

I have for years been harping on you all that "regulate" does not mean "stop"
..and you guys never get it.

The traditional stock exchanges have regulations yet you can still trade for profits can't you ?

Anyway..
I'd guess like anything in China they would guard their borders and control their own people.
How should be rather evident.. look at similar situations.

And don't expect people to lay down in front of a tank either.. crypto profiteers are cowards.
Shady immoral deceitful people usually are.

Why am i forever permanently the ONLY smart one in all of crypto ?

Ok. But what will stop the Chinese people from buying bitcoins on their own and store them in a wallet not connected with their ID? They can use TOR and VPN to access their new anonymous wallet and they can use Monero, Shapeshift and xmr.to to hide their transactions. It is very easy to circumvent the law these days using cryptocoins.

In my opinion, what the Chinese central bank can do is restricting the ICO platforms in China. As we known, Cryptocummunity is self reliance community, they can't stop us from buying tokens form ICO websites in other countries. So, don't worry to much.

That is the fact and you have to acknowledge it and China could regulate the amount of money flowing out of their country into ICO projects and that is the best they can do to regulate the ICO flurry and it is high time that some countries try to bring some sort of regulation in this regard,but it might take some time to see those implementation.

Ask the guys behind ETH or Ripple what they think of this news..
Wasn't part of the selling points of both the "Big Banks" connection ?

I said in 2013 you can't do this shit with out links to FIAT.
And those links were never regulated way back but they will be in time.

Crypto as i see it is a replacement of sorts to FIAT.
It needs to be value transferred from FIAT to a coin like BTC.
That is just how it works guys.. like it or not.
So yeah ..they can regulate it.
And they will too !

Your loud little crypto-party going on is getting the neighbors calling the cops.

i though a bit about it:

1. China would enforce some sort of ID-connected btc adress system/database for every single chinese citizien.
2. Chinese bitcoin exchange (the chinese exchange customers) can only send bitcoin to these adresses.
3. Chinese Banks (the chinese bank customers) can only send fiat to exchanges that agree to this kind of rules.


Of course that doesnt include the miners and OTC.

Did China say how exactly they will start dealing with the situation? They will be in for a legal quagmire if they do not have a concrete solution on how to deal with the projects that will have an ICO. The foundation is in Switzerland, with all the complete legal paper work, the development team is somewhere else and is not financially involved except for working on the project, also legal, and the project itself is comprised of nodes located everywhere.

How is China going to stop that?

It easy for Chinese bitcoin investors to driving the bull in their country whether it goes up or decline again, because it depend on trading volume. People always a way to trade outside the country if they prohibit such kind  activities, like they did with 3 biggest exchanges in China. But, the most interesting part is, how they gonna stop ico? If the crowdfunding process going through a wallet (ex: blockchain or eth wallet) which is not an exchange.

Some people just continue to rejoice in something impossible to do. Its high time the Chinese needs to understand that bitcoin has outgrown whatever grip they have on it that what ever they do from their end will send a spike to the price of bitcoin. If they want to regulate they should go ahead but they should be sure to know that they can only do that for those who intend to use sites hosted in their countries and there are several who don't even care whether China exists or not.

Complete waste of time. Chinese government has been looking for a way to regulate cryptocurrency I bet they will never figure it out.  Now they want to regulate ICO? Lol

Bitcoin is very popular in China. In fact, Chinese Bitcoin investors are driving the Bitcoin bull market. Why shouldn't in China be a big number of ICO investors as well?

Exactly since they are having a lot of Bitcoin miners in china I guess they are just trying to get some control over the Alts since a lot of people might be miningbtyen in china too. For me I have no problem with that except for when it is intended to bring centralization.

Actually I think it would be a great change for crypto traders, less money on ICO's = more money in current alts, current cryptocurrencies will be much more stable then before.
Traders would have less choices to invest, no more money wasting into ICO's, most successful crypto's are always those who got supported from community and not big fishes, I think there will be no new crypto that would lead world payments except BTC,XRP or ETH, even if this happens it would be due to massive community requests. 85% of ICO's aim to make global payments network but I think none of them will succeed, all of them are gold diggers 

We expect this since new ICO are coming in every month and they are making millions of dollars with the project they present and i expected some sort of regulation coming up,but how come a regulation from a single country will affect the entire system is to be noted, as they might restrict the people from China ,other than that i wont find any difference.

Since this guys ( peoples bank of china) has lost control over bitcoin to bitcoin's acceptability worldwide, they have shift their swords to ICO project! In my opinion government should remove their hands for market forces to determine it values and regulations.

A lot of altcoins are dead or not pumping. Most of good altcoin are not cheaper anymore. So no more good source of income. That's why a lot of investors are seeking for good source of income. And that's ICO. Again, PBoC wants to regulate ICO. I don't think they will be successful on that. Look what happens to bitcoin? Its still going up.

I kind of agree i think.

The money puts pressure on the regulation authorities eventually.
Crypto has always been straight forward and obvious for the most part.
It's really all just about common sense.

When you look around and you see a massive amount of unregulated money flying around it has to stop.
Or at least have massive restrictions / consequences.
I have been saying for years this would not fly under the radar forever..
And the first steps were the US & CAN govt's implementing tax guidelines
Then exchanges started with the KYC / AML stuff.

BEFORE THAT ..i had EVERY ONE in crypto mouthing me off and laughing loudly that they couldn't do exactly that.

..and they did.

I called it and predicted and seen it coming from day one.
Because ..it's common sense.

Bottom Line:
Crypto is nothing but a massive digital pyramid scheme infrastructure.
People make half ass fleeting attempts to *pretend* to care about currencies etc.
But at the end of the day everyone here simply counts their ROI's.

The point is currencies.
The point is adoption.

..not profits.
BUT ..all you ever hear about is ?

So you all can say anything you want but it's a moot point.
This is a giant ponzi from hell type of thing.
It's simply an endless series of variants of a digital pyramid scheme token.
It's always reminded me of the old water filter scam pyramid schemes.

This isn't the stock market guys and these are not businesses.
They are currencies and they are *suppose* to be open source and non corporate.
The very idea of an ICO in crypto is the exact opposite of what this shit was started for and was suppose to be about.

ALL ICO's piss all over the ideology of crypto.

Crypto has changed and is now a facade.
Just a giant charade fer teh ROI's.
So when criminals and immoral greedy piglets act like idiots en mass yeah the cops are comin'

Buying ICO "coins" for profit ?
Why the fuck would i do that ? ..never have and never will.
I came to support launching an open source digital currency and that has NOTHING to do with it.
Those of you that don't support that ideology should GTFO out of my scene.
You contribute nothing and are a cancer to crypto.
Want money ? get a fucking job kidiot Investards.. McDonalds is hiring.

This was never suppose to be about 3rd world country mush mouth foreigners using teh profits coinz on teh exchangers so they can buy their first pair of shoes (shoe ownership is a big thing i hear there)

Want to pretend you are playing in the stock market Investards ?
Then buckle up for some regulations.

Don't like my comment ?
Go write a "white paper" about it !
Contact your currencies CTFO on which dept of crypto advisers should do it.
Your crypto CEO should give you the companies correct dept info and who to bill etc.

i think you'll find all the ICOs from this community are illegal in most parts of the world, just been under the regulators radar in most., it'll hit the fan soon enough  

that will be restricting the Chinese to join on the ico. But most of the ico based in the western that means the ico will be prohibited for the chinese. and i think this will be the same case with what already did by SEC. to prevent his civilians to take more risk invest on ico.